The Nasdaq has updated its crypto index to include XRP, Stellar (XLM), Solana (SOL) and Cardano (ADA).
The Nasdaq Crypto US Index (NCIUS) aims to measure the performance “of a material portion” of the overall digital asset market, per the Nasdaq Global Indexes website.
The index originally tracked only Bitcoin (BTC) and Ethereum (ETH), but earlier this month it added the other four crypto assets.
The financial firm Hashdex called attention to the change in a new filing with the Securities and Exchange Commission (SEC).
The firm offers an exchange-traded fund (ETF) that tracks the NCIUS, but it can only hold BTC and ETH due to SEC restrictions on the product.
Hashdex says that it has implemented a “sampling strategy” to balance the BTC and ETH holdings to provide investors with accurate exposure to the NCIUS, but because it cannot track the other assets in the index, the firm also notes there is additional risk of a potential tracking error.
In March, Nasdaq filed with the SEC for a rule change that would permit Hashdex’s ETF to change its benchmark index from NCIUS to the Nasdaq Crypto Index (NCI), which holds all six of the above-mentioned crypto assets as well as Litecoin (LTC), Uniswap (UNI) and Chainlink (LINK).
The SEC is currently reviewing the proposed rule change and is expected to make a decision by November.
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
